Practice - Opportunity Cost
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Practice Questions
Test your understanding with targeted questions
What is opportunity cost?
💡 Hint: Think about what you give up when choosing something.
Give an example of opportunity cost in everyday life.
💡 Hint: Consider two activities you might choose between.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What does opportunity cost represent?
💡 Hint: Think about what you could have chosen instead.
True or False: Opportunity cost only applies to financial decisions.
💡 Hint: Consider non-monetary choices as well.
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Challenge Problems
Push your limits with advanced challenges
A family has $300 to spend on a vacation. They choose to spend it on a beach resort instead of a mountain retreat that costs $250. Calculate the opportunity cost.
💡 Hint: Consider what they miss out on by not choosing the mountain retreat.
An entrepreneur decides to invest $50,000 in a bakery instead of a tech startup. What are the opportunity costs of this decision?
💡 Hint: Think about both financial and non-financial benefits that could have been realized.
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Reference links
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